Question

Zoe Corporation has the following information for the month of March: Cost of direct materials used in production $15,424 Direct labor 27,640 Factory overhead 37,280 Work in process inventory, March 1 23,362 Work in process inventory, March 31 20,247 Finished goods inventory, March 1 22,674 Finished goods inventory, March 31 28,844 a. Determine the cost of goods manufactured.

Answer 1

Particulars Amount

Raw material used $15,424

Add: Direct Labour $27,640

Add: Factory overhead $37,280

Total manufacturing cost $80,344

Add:Beginning work in progress inventory $23,362

Less: Ending work in progress inventory $20,247

Cost of goods manufactured $83,459

Add: Beginning finished goods inventory $22,674

Less: Ending finished goods inventory $28,844

Cost of goods sold $77,289